AppFolio Gains 2.4% Despite Broader Market Weakness
The shares rose in the latest session, while Zacks estimates point to higher quarterly and full-year earnings and revenue.
AppFolio closed at $200.52, up 2.4% in the latest trading session. The S&P 500 fell 0.25%, while the Dow lost 0.86% and the Nasdaq rose 0.24%.
The daily gain followed a weaker month for the stock. AppFolio fell 13.08% over that period, while the Computer and Technology sector gained 4%.
Zacks consensus estimates call for quarterly earnings of $1.78 per share, up 35.88% from the same quarter last year. Revenue is forecast at $294.05 million, a 17.92% increase.
For the full year, Zacks projects earnings of $6.91 per share and revenue of $1.12 billion. Those figures represent forecast increases of 30.62% and 18.32%, respectively, from the previous year.
The consensus estimate for quarterly earnings per share has not changed over the past month, Zacks said. The company’s next financial results are upcoming, though the article did not specify a release date.
AppFolio traded at a forward price-to-earnings ratio of 28.34, compared with an industry average of 18.78, according to Zacks.
This article was produced with the help of AI technology.
Source: Yahoo Finance
